South Coast Financial Centre of Excellence Welcome to the South Coast

Welcome to the South Coast of – this region steeped in maritime history is now one of the UK’s most popular and economically prosperous locations, situated just a short distance away from . gov.uk/ukti 1

— The region’s proximity to London, lower office overheads than the capital and 130,600 highly educated employees equals a thriving financial and business services sector — 130,600 There are 130,600 people Covering the county of and employed in the financial and part of neighbouring , the region has business services sector an overall area of more than 3,880 km2 in the South Coast region and includes the cities of , and Winchester and the of & , Farnborough and Basingstoke. It boasts an exceptional quality of life, with a climate, environment and infrastructure that helps residents and 22 the local workforce make the most of the 22 FTSE 100 companies have area’s attractions and advantages. headquarters, major corporate centres or back-office operations Offering excellent transport links, the in Hampshire South Coast is extremely well connected, enjoying easy access to London, the rest of the UK and beyond. The region is within one hour’s drive of a market of 18 million people and has a world-class talent pool and high quality, competitively priced £9.1bn office space, making it the ideal location to establish and grow a business.

Such factors have proved an irresistible Hampshire companies draw to the business community, with contributed £9.1 billion in companies of all sizes and specialisms economic output in 2012/2013 choosing to have a presence on the South Coast. Thriving sectors include financial and business services, which have gone from strength to strength in the region in recent years, attracting a growing cluster of globally successful companies. 2 South Coast Financial Centre of Excellence

Financial hub

The South Coast is a leading Major employers centre of excellence for the There are over 130,600 people employed in financial and business the financial and business services sector on the South Coast, with services sector in the UK. companies alone accounting for more than 40,000. There are also over 30,000 2,020 financial and business services people employed in associated professional companies, including 22 FTSE 100 firms, services – one of the highest employment have established headquarters, major rates in the UK outside of London. corporate centres or back-office operations in the area. Collectively, they contributed Industry strengths £9.1 billion in economic output in 2012/3 £3.48 billion in financial services alone. The volume of the financial and business services sector on the South Coast means The presence of these companies creates that sub-sectors are substantial in their major opportunities for other financial and own right. For example, Hampshire has business services enterprises looking to significant strengths in , relocate to the South Coast. For example, employing 24 percent of South East there is a ready pool of well-qualified England’s insurance industry, the largest labour already working in these firms, as in Europe. Business and management well as the opportunity for new recruits. consultancy, legal services and accounting There is a wealth of experience amongst and tax professions are also enjoying existing businesses of getting the most growth and represent 15 percent, from the extensive knowledge base on 21 percent and 15 percent of employment in offer locally. this sector in the South East respectively.

— There is a wealth of experience amongst existing businesses 21% of getting the most from the 21% of employees in the South East extensive local knowledge base work in legal services — gov.uk/ukti 3

Key locations Basingstoke

The South Coast has a number of key Basingstoke is home to numerous locations where there are clusters of household business names from the financial and business services companies. financial services sector and these, With access to a catchment area of along with many other equally world-class 18 million people there is a constant companies, combine to invest in the source of readily accessible new talent ’s success. to the region. Companies include: – AXA Wealth – Baker Tilly – 18m – Langdowns DFK There is access to a – Sun Life Financial of Canada catchment of 18 million people in the region 4 South Coast Financial Centre of Excellence

Bournemouth & Poole Bournemouth also offers an international airport which is a key gateway to southern Bournemouth & Poole generates £1.6 billion England, serving 689,000 passengers a year in Gross Value Added from financial and 60 destinations annually. Planning and , with 12,700 permission has recently been secured for people (12.1 percent of the population) a new airport development site which has employed in the sector. The town’s biggest seen £50 million of private-sector employer is American banking giant J.P. investment by Manchester Airport Group. Morgan, which has over 4,000 staff at its Chaseside campus. At less than two hours Companies include: by train from Bournemouth to London – Abbey Life Waterloo, it is an ideal business location. – Ageas Retail – Arthur J Gallagher Several global business heads – dealing with – of New Mellon everything from securities processing to – Barclays fund trustee management – are now based – J.P. Morgan on the Dorset coast. Bournemouth is at the – LV = Liverpool Victoria core of a ‘near-shoring’ trend amongst – Nationwide financial and professional services firms: – Pru Health the movement of jobs either out of London – Teachers Assurance or from overseas back to the UK.

CASE STUDY

Global centre Bournemouth, most recently committing £28.6 million to install state-of-the-art Financial giant J.P. Morgan, America’s communication technology. largest bank, has a major presence on the South Coast. Established 25 years Chairman and CEO Jamie Dimon says: ago, its office in Bournemouth is a “Bournemouth offers access to high- centre for technology and operational quality talent and to facilities that can processing with worldwide reach, support our business, not just in employing more than 4,000 people. London, but around the world. We are proud to be an active member of the It is a key location in the company’s local community and to be the largest global franchise, supporting activity in private-sector employer in Dorset.” over 90 markets across more than 40 countries. J.P. Morgan has continuously jpmorgan.com invested in its business and people in gov.uk/ukti 5

CASE STUDY

Mutual benefits financial services businesses based locally and one of the major employers LV = (Liverpool Victoria), a leading here. We’re committed to developing financial mutual offering a range of and recruiting talent and continue insurance, investment and retirement to forge relationships with local products, employs 2,400 people at its universities and colleges which head office in Bournemouth. They are are essential to our success. We have the UK’s largest friendly society, with a wide range of roles within our more than 5.5 million members Bournemouth office, from customer and customers. services through to IT, HR, finance and HR Director Julia Tyson says: “Being in digital marketing, to name but a few, Bournemouth gives us access to the which offers great development wide range of talented people based opportunities for our people.” here in the town and it’s great to be part lv.com of the unique community spirit. We’re proud to be part of the growing hub of 6 South Coast Financial Centre of Excellence

Farnborough Portsmouth

Only 34 minutes from London by train, Portsmouth is a vibrant waterfront city. Farnborough is home to the most modern Over £1 billion is being invested and and efficient business aviation airport committed to infrastructure projects and in Europe. commercial and residential developments. They include the Lakeside North Harbour With high-quality business and technology business campus, home to some major parks within a short taxi ride from the financial and business services firms. airport, Farnborough is fast becoming the location of choice for many financial and Companies include: business services firms. – Capita – Handelsbanken Companies include: – – Menzies – Zurich gov.uk/ukti 7

Southampton CASE STUDY Home to the UK’s second-largest container terminal and four state-of-the-art cruise terminals, Southampton is a major hub for both business and leisure.

With serving over 50 European destinations and a master plan for the city centre creating significant, high-quality office space in the near future, Southampton is one of the South Coast’s A sound investment premier business locations. Southampton is the UK headquarters Companies include: of Wealth, part of – Ageas Old Mutual Plc, one of the world’s – leading independent providers of – BDO solutions for long-term savings – and investments. – Ernst & Young – Foresters Friendly Society Employing more than 1,500 staff and – Grant Thornton managing £35.5 billion on behalf of – HSBC its customers, the firm’s South Coast – KPMG office has proved a highly successful – Old Mutual Wealth business hub, helping Old Mutual – PwC Wealth become one of the fastest- growing financial services companies in the UK.

UK Operations Director Phil Hine says: “Being located in Southampton connects Old Mutual Wealth to a wealth of talent, from university graduates to highly skilled employees. In Southampton we are at the heart of the region’s road, rail and flight connections, not only to Central London but also to Europe and the rest of the world.”

oldmutualwealth.co.uk 8 South Coast Financial Centre of Excellence

Key company locations

Heathrow

M3 Farnborough

M25 Basingstoke 31 27 A3 5 35 3 33 32 Guildford M3 A31 Gatwick

M23

Winchester 14

4 A3 9, 11, 13, 15, 1 23 21 16, 17, 19, 22, 7 24, 28, 30 6 27 M27 Portsmouth 8, 25, 26, 29 Southampton 18 11

20 2 34 12 10 Bournemouth 2

1. Ageas Insurance 10. BNY Mellon 19. HSBC 29. PruHealth 2. Ageas Retail 11. Capita Group 20. JPMorgan Chase 30. R oyal Bank of Scotland 3. A on 12. C outts & Co 21. K ingfisher (B&Q) Group 4. Aviva 13. Deloitte 22. KPMG 31. Serco Group 5. AXA Wealth 14. D enplan 23. Langdowns DFK 32. Simplyhealth 6. Babcock International 15. Ernst & Young 24. L loyds Banking Group 33. Sun Life Financial of Canada 7. Baker Tilly 16. F oresters Friendly 25. LV=Liverpool Victoria 34. Teachers Assurance 8. Barclays (Corporate), Society 26. Nationwide Building Barclays International 17. G rant Thornton Society 35. Zurich Financial Services 9. BDO 18. Handelsbanken 27. Menzies 28. Old Mutual Wealth

10 South Coast Financial Centre of Excellence

Talent pool

As well as being able to take advantage University of Portsmouth of the expertise offered by the existing workforce, financial and business services The University of Portsmouth provides companies on the South Coast can draw 6,000 graduates per year, of which from the region’s rich pool of graduate and more than 200 have specialist degrees recently qualified talent, with essential covering areas such as financial skills in areas such as IT, mathematics, management, economics, accountancy, accountancy, economics and finance and banking and law, as well as a Master business studies. The vast majority of this of Business Administration. talent will be alumni of one of the South Many of the academic staff members Coast’s five universities, which all have come from a commercial or industrial higher than the South East and the background. This helps the university to national average enrolled in business maintain strong links and to actively partner studies. Collectively, there are nine with local finance and business services universities within 40 miles of the region. organisations through collaborative projects, consultancy, talent development, economic forecasting and their process and product innovation expertise. gov.uk/ukti 11

CASE STUDY

In addition, arranging meetings with our parent company who are based in France is easy. We use the ferry links from Portsmouth to Le Havre as we have a call centre based there. We can also take the Eurostar from London to Paris or fly from Southampton Airport which is only a 20 minutes drive away meaning that we can get from Southampton to Paris in less than Insuring success 1 1 /2 hours.”

SPB is an independent family-owned As a leading affinity insurance provider group founded in Normandy, France in in Europe providing mobile phone 1965. In November 2013 they opened insurance programmes to over 100 their UK headquarters in the centre of brands, SPB has seen impressive the coastal city of Portsmouth having growth based on customer’s increased been based in Ryde in the Isle of Wight dependence on smartphones and since 2001. tablets which are vulnerable to Several factors influenced SPB UK’s accidental damage or loss or theft. move to Portsmouth including excellent In the UK, the company has seen transport connections to London and headcount double in the last 6 months. Europe, access to skilled talent and SPB have recently opened a new walk-in being within a commutable distance repair facility in London which allows from the Isle of Wight where many of customers to get their phone repaired the experienced staff live. whilst they wait. Phone Service Centre Colin Whitehair, Managing Director for is a new concept for the UK market, but SPB UK said: has been successfully operational in Europe with 180 stores, and is the first “Portsmouth is a fantastic location with of its kind run by an insurance company excellent transport links. We are able to in the UK. get to London and back within a day which is essential as a lot of our clients spb-uk.co.uk are based in the city. 12 South Coast Financial Centre of Excellence

University of Southampton

The University of Southampton, a member of the prestigious Russell Group of research-intensive UK universities, has an international reputation for world-leading research, which is often used by businesses to solve some of their toughest challenges or to gain a competitive advantage. For the financial and business services sector, the university runs the following six world- class research centres, which are addressing a wide range of industry issues.

Centre of Excellence in Decision Centre for Relational Leadership Analytics & Risk Research and Change A leading authority in management Offers experience in both the theory science, risk and information systems, and practice of effective leadership and realised and delivered through research, relationship building and actively researches education and consultancy. its role in the management of change.

Centre for International Banking Centre for Digital, Interactive Finance and Accounting and Data Driven Marketing Carries out internationally renowned Educating the next generation of academic research and teaches a wide marketing professions through rigorous range of the most important topics in research and insights from leading accounting and finance, with an increasing companies and key industry bodies. and unique emphasis on the global financial crisis in Europe. Centre for Innovation & Enterprise Focusing research and teaching on innovation and enterprise.

Centre for Operational Research, Management Science and Information Systems One of the largest groups of its kind in 9 the UK, with an international reputation There are nine universities within in areas such as credit scoring, healthcare 40 miles of the region modelling and transport & logistics. gov.uk/ukti 13

Bournemouth University – T hey have research centres in entrepreneurship and economic has come growth; financial markets and a long way in a short amount of time economic fluctuations; cyber security and currently has over 17,000 students. and disaster management. It has a strong professional orientation with a focus on academic excellence – These centres have secured funding from and graduate employability. The university the ESRC, AHRC, etc for a wide range is a well-established name in the financial of knowledge-transfer events on the services sector: financial crisis, finance for SMEs and the marketing of financial services. – It was the first to introduce an undergraduate degree in financial – T hey have long-standing relationships services and currently offers a range with professional financial and business of postgraduate master-level courses services organisations, including for those interested in financial services, Barclays, J.P. Morgan, LV=, and loss adjusting and risk. Santander Commercial.

– Its courses are recognised by financial services professional bodies, including CII, CISI and CILA. 14 South Coast Financial Centre of Excellence

Bournemouth & Poole College — Bournemouth & Poole College Bournemouth & Poole College was one was one of the first further of the first further education colleges in the UK to identify and act upon the need to education colleges in the UK both broaden training and create a pipeline to identify and act upon the of talent of those looking to work in the need to both broaden training financial services sector. As a result of and create a pipeline of talent research with local employers, the College created a new centre dedicated of those looking to work in the to financial services at its Lansdowne financial services sector campus and published a Financial Services — Manifesto. With over 2,500 new jobs forecast for the sector over the next seven years, this centre is positioned locally to ensure the right skills to meet this need and additionally provide business-related courses such as management, IT, marketing and administration. The Centre develops by focusing on:

– Collaborating with business – Top-class teaching – Employability – Nurturing new talent – Research and development – Apprenticeships

2,500 2,500 new financial services jobs forecast locally over the next seven years gov.uk/ukti 15

Eastleigh College

This modern college is a preferred choice for local and wider employers operating within the professional and financial and professional services industries. In 2005, the college established the Professional and Financial Academy, which offers high-quality, industry-specific qualifications that are delivered by current industry experts. Training has been designed with the support of local market leaders within the professional and financial services Southampton Solent University sectors, and can be delivered at the Academy or alternatively at the work place This modern and dynamic university is or via e-learning. The college is developing at the forefront of developing innovative, its provision in response to the findings employer-facing courses that give in the UK Annual Financial Services Review graduates a head start in their careers. 2014, which from a training perspective It offers an impressive range of financial is particularly useful in terms of identifying and business services-related courses, the key drivers within the financial including accountancy and finance, services industry. business administration, business and management, business economics and business and marketing, all of which harness strong professional and industry experience to inform and direct learning. University of Winchester

The University of Winchester’s business school has an enviable reputation in the teaching of business programmes and a dynamic and growing portfolio of undergraduate and postgraduate courses in accounting, finance and economics. It is a member of a of international business schools to join PRME, a United Nations’ initiative to inspire and champion responsible management education, research and thought- leadership globally. 16 South Coast Financial Centre of Excellence

Outstanding lifestyle

The South Coast offers Residents enjoy an exceptional quality of life, with higher than national-average an environment where it temperatures and sunshine in which to is truly possible to work, enjoy the following attractions: rest and play. Coast

The 51 miles of local coastline has many attractive harbours, marinas and estuaries. is designated as both an Area of Outstanding Natural Beauty and Heritage . 100,000 The South Coast hosts the internationally Cowes Week on the Isle of Wight renowned Boat Show in Southampton, attracts over 100,000 spectators and the annual Cowes Week on the Isle each year of Wight attracts over 100,000 spectators. gov.uk/ukti 17

Countryside Sport

Venture just a few miles out of the South The South Coast offers a wealth of Coast’s cities and you will find countryside sporting opportunities for both the that includes over 6,000 miles of footpaths participant and the spectator. Watersports and bridleways. enthusiasts will find their perfect playground in the Solent, the home of The New Forest National Park is a landscape ocean sailing, and the region’s miles of of 140,000 acres of ancient woodland. To countryside lend themselves to an array the east of Hampshire, the South Downs of pursuits. World-class cricket is played National Park spreads into West Sussex. regularly at the Ageas Bowl near Southampton, while football fans can watch Premiership matches at St Mary’s Stadium, home of Southampton FC.

6,000 AFC Bournemouth There are 6,000 miles of country Bournemouth also hosts a variety footpaths and bridleways around of sporting and leisure facilities. The the South Coast famous A.F.C. Bournemouth football club (The Cherries) is positioned in the Championship, the second tier of the system.

Pavilion Dance South West Pavilion Dance is a national dance house, based in the Pavilion in Bournemouth. It offers world-class dance performances and workshops in a 200-seat theatre and spacious studios.

— The South Coast offers a wealth of sporting opportunities for both the participant and the spectator — 18 South Coast Financial Centre of Excellence

Coastal Activity Park Venues include the Bournemouth The Park combines existing seafront International Centre (BIC), Bournemouth activities, sport and events with exciting Pavilion and Centre, a leisure new concepts that make for a centre that is situated within 47 acres of comprehensive destination for locals and parkland and boasts some of the finest visitors alike. It provides a unique new leisure, swimming, football and gym attraction with opportunities for all ages facilities in the country. and abilities as well as covering preferences for relaxation, extreme sports and/or Opened in 1989, the centre has been educational activities. ranked as one of the top-performing leisure centres in the UK. BH Live BH Live is a leisure and cultural trust Chapel Gate which operates a unique mix of leisure Chapel Gate is a 65-acre sporting venue, and cultural activities at award-winning situated next to Bournemouth International venues and centres across . It is home to many international and Portsmouth. sports teams and events in the South of England, as well as hosting the biggest rugby 7s tournament in the world. gov.uk/ukti 19

Culture

The South Coast’s towns and cities offer an excellent range of shops, festivals, museums, galleries and theatres.

Southampton’s internationally renowned City Art Gallery houses an impressive collection, spanning six centuries of European art history, and the city’s Mayflower Theatre is the region’s major venue for large-scale touring musicals, opera and ballet. Bournemouth International Centre hosts large concerts and conferences and the Russell-Cotes Art Gallery & Museum provides a variety of history and culture. Food and drink

Pubs, bars and restaurants abound on the South Coast and offer something to suit History everyone’s taste and budget. Home to the month-long Hampshire Food Festival, The South Coast is rich in history, and the South Coast has a wealth of food and locations across the region provide visitors drink grown, produced and reared locally. with captivating insights into its past.

In addition Bournemouth hosts its local Traces of Winchester’s status as the ancient enticing Food & Drink Festival annually English capital are found throughout the in June. city, while its religious heritage is showcased by Winchester Cathedral.

Famous ships have sailed from the South Coast’s shores for centuries. King Henry VIII’s Tudor ship, the Mary Rose, sank off Portsmouth in 1545 and is housed today in the city’s historic dockyard alongside the 18th-century HMS Victory and Queen Victoria’s HMS Warrior. In 1912, the Titanic departed on its ill-fated voyage from Southampton, remembered in the city’s SeaCity Museum. 20 South Coast Financial Centre of Excellence

Global connections

Financial and business services companies The South Coast also has two international based on the South Coast benefit from airports of its own at Southampton and having access to a wealth of first-class Bournemouth, with direct flights to transport links. popular European destinations, while Farnborough is the location for Europe’s The region is within easy reach of leading business aviation airport. London’s airports, with connections to all international terminals at Heathrow This added to two major motorways, and Gatwick less than an hour away. three ports and excellent rail links makes the South Coast an ideal gateway to the rest of the UK and beyond. 4 There are four international airports within one hour’s travel of the region Business support

– Business South – Chambers of Commerce – Chartered Institute of Insurance (CII) – Dorset Growth Hub – Dorset Skills Hub – Hampshire Enterprise Circle – Outset – TheCityUK – UK Trade & Investment

Get in touch

For further information on the financial UKTI BMO Sector Specialist at and business services sector on the Financial Services Organisation South Coast, please contact: [email protected]

Invest in Hampshire UKTI Insurance Sector Specialist [email protected] at Financial Services Organisation [email protected] [email protected]

Invest in Bournemouth UKTI Project Manager Asset [email protected] Management at Financial Services [email protected] Organisation [email protected] Invest in Poole [email protected] [email protected] gov.uk/ukti

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